Answer:
₹[tex]9,600[/tex]
Step-by-step explanation:
we know that
The simple interest formula is equal to
[tex]I=P(rt)[/tex]
where
I is the amount interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
[tex]t=4.5\ years\\ P=?\\ I=1,512\\r=0.035[/tex]
substitute in the formula above
[tex]1,512=P(0.035*4.5)[/tex]
[tex]P=1,512/(0.035*4.5)=9,600[/tex]
